12pm update - seeking a rollover within a day or so

The daily charts are pretty suggestive that we could see a definitive rollover within the next day or so. Of course, it will be highly dependent on what the FOMC announce later today, and the Friday jobs data.


sp'daily5

VIX'daily

Summary

Choppy trading likely until 2.15pm...when it will all go full-moon crazy until the close. We could easily ramp.with a quick fail...or just fall off a cliff.


Special point of note:

Lower channel on the daily is 1340 - by this Friday. So..if we can somehow magically close in the 1330s by the Friday close, that would be very exciting for the bears across the weekend.

A 43pt drop by the Friday close IS viable.
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